- An Electronic Equipment Insurance policy provides protection against unforeseen events that cause the breakdown and physical damage of installed electronic equipment in a business.
- It protects from incurring excessive expenses in the event that the equipment is damaged and data media has to be restored.
Every policy is different, but this is typically what is covered:
- Repair or replacement of the equipment because of material damage
- Loss of and restoration of data media, including data stored on the equipment
- Increased cost of working as a result of damage to the equipment.
- The owner or owners of the equipment
- The business leasing the equipment
- Jointly, where financial interest can be established for more than one party. For example, bankers’ financiers.